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#2216061 - 06/19/19 08:13 PM Nevada Requirement?
M Cockrell Offline
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M Cockrell
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Dallas, TX
We’re located in Texas, but have a customer who frequently travels and was recently attempting to open a commercial DDA in NV, but was informed by the bank rep a NV DL or ID is required to open an account.

Is this a state law? Or, is it more likely a bank requisite?
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#2216063 - 06/19/19 08:23 PM Re: Nevada Requirement? M Cockrell
John Burnett Offline
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John Burnett
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Cape Cod
Without researching the issue, I'm reasonably sure it's a bank policy requirement (real or imagined by the bank rep).
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#2216064 - 06/19/19 08:29 PM Re: Nevada Requirement? John Burnett
M Cockrell Offline
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M Cockrell
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Dallas, TX
Is there a website/resource I could use to verify one way or the other?
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#2216081 - 06/19/19 10:27 PM Re: Nevada Requirement? M Cockrell
rlcarey Online
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rlcarey
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Galveston, TX
Sure - you can scour the Nevada State Banking laws - but your customer should be asking a Nevada attorney and not a bank in Texas regarding Nevada banking law.
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#2216119 - 06/20/19 01:17 PM Re: Nevada Requirement? rlcarey
M Cockrell Offline
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M Cockrell
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Dallas, TX
Understood (and agreed), but the request for the info comes from my President because the client is a "high value" customer.
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#2216143 - 06/20/19 03:58 PM Re: Nevada Requirement? M Cockrell
rlcarey Online
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rlcarey
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Galveston, TX
Then I would say that you have not been able to locate anything specific and that you are more than willing to call an attorney in Nevada - just give me the GL account to bill. smile
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#2217348 - 07/10/19 04:57 PM Re: Nevada Requirement? M Cockrell
OldeTymeBanker Offline
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Joined: Mar 2016
Posts: 55
As a Nevada banker I will try to give a little insight here. We do accept out of state IDs, albeit with a secondary ID as well, for consumers at our bank, but we are wary of opening commercial accounts for businesses that may be registered in NV, but not actually doing business in NV. As part of our KYC we do site visits for commercial accounts, and we won't accept the office of a Registered Agent as proof of doing business in NV. There are some banks that will take these types of accounts, but we consider them too risky and won't accept them unless we can make a valid case for it. For instance, if we have a commercial client who has a partial ownership in a another business we may consider it, but in general we do not. I once worked for a bank that did accept them for awhile, and it was a nightmare. Constantly receiving subpoenas, etc. on the accounts. It was not worth it and the bank did eventually stop.
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